Suxin Joyful Life Services Co., Ltd. announces that Mr. Cai Jinchun has resigned as a non-executive director and a member of the audit committee of the Board of the Company due to work relocation; and (ii) Mr. Tang Chunshan has resigned as a non-executive director and a member of the remuneration committee of the Board of the Company due to work relocation. Their resignation will take effect from the date when new non-executive directors to be elected at the general meeting of the Company officially assume their duties. During this period, Mr. Cai Jinchun and Mr. Tang Chunshan will continue to perform their duties as non-executive directors.

As nominated by Suzhou Sugaoxin Group Co., Ltd., a controlling Shareholder of the Company, the Board proposes to elect (i) Ms. Li Xin as a non-executive director of the first session of the Board of the Company; and (ii) Mr. Cao Bin as a non-executive director of the first session of the Board of the Company. Their term of service will commence from the date of approval at the general meeting of the Company until the expiry of the term of the current session of the Board, and shall be eligible for re- election upon expiry of the term in accordance with the articles of association of the Company. Ms. Li Xin, aged 40, has over 17 years of experience in finance and accounting.

From 2005 to 2015, Ms. Li successively served as an accountant, account manager, deputy general manager of corporate banking department, manager, assistant to the president, deputy manager of customer department and specialised approver of the SME department in Hua Xia Bank, Suzhou Branch, Bank of East Asia, Suzhou Branch, Bank of Jiangsu, Suzhou Branch and Hua Xia Bank, New District Branch. From April 2015 to October 2018, she served as the assistant director of the settlement center in Suzhou New District Economy Development (Group)Corporation (the former name of Suzhou Sugaoxin Group Co., Ltd; from October 2018 to March 2022, she served as the deputy director of the settlement center in Suzhou Sugaoxin Group Co., Ltd. from October 2021 to May 2022, she served as the financial controller I in Suzhou Gaoxin Real Estate Yangzhou Co. Ltd; from October 2021 to May 2022, she served as the financial controller I in Suzhou West Eco City Development Co., Ltd.; from March 2022 to April 2023, she served as the deputy director of the financial management department in Suzhou Sugaoxin Group Co., Ltd; and since April 2023, she has been serving as the director of the financial management department in Suzhou Sugaoxin Group Co., Ltd. Ms. Li graduated from Soochow University in June 2005, majoring in International Economics and Trade with a double bachelor's degree in Economics and Management.

Ms. Li obtained the titles of Economist and Certified Public Accountant in April 2017 and September 2017, respectively. Mr. Cao Bin, aged 40, has over 16 years of experience in finance, investment management, and operational management. From 2006 to 2021, Mr. Cao successively held various positions in such fields as finance, internal control, and assistant to general manager in multiple companies; from October 2020 to October 2021, he served as the financial controller I in Sugaoxin Chengjian Development (Suzhou) Co., Ltd, and Suzhou Gaoxin Education Industry Development Suzhou Co., Ltd. from January 2021 to October 2021, he served as the deputy director of the internal control department in Suzhou Sugaoxin Group Co., Ltd; from September 2021 to October 2021, he served as the financial controller I in Suzhou Sugaoxin Commercial Development Co., Ltd; from October 2021 to March 2022, he served as the deputy director of the investment management department in Suzhou Sugaoxin Group Co., Ltd; from March 2022 to April 2023, he served as the deputy director of the operations management department in Suzhou Sugaoxin Group Co., Ltd; since April 2023, he has been serving as the director of the operations management department in Suzhou Sugaoxin Group Co., Ltd; and since April 2022, he has also been serving as the secretary of the Second Branch of the Party Committee of Suzhou Sugaoxin Group Co., Ltd. Mr. Cao received his bachelor's degree in Business Administration from Soochow University in June 2006.

He obtained the titles of Economist and Certified Public Accountant in January 2013 and January 2015, respectively. The Board of the Company hereby announces that (i) Mr. Feng Jingen has resigned as a supervisor and the president of the supervisory committee of the Company due to work relocation; and (ii) Mr. Huang Wei has resigned as a supervisor of the Company due to work relocation. Their resignation will take effect from the date when new supervisors to be elected at the general meeting of the Company officially assume their duties.

During this period, Mr. Feng Jingen and Mr. Huang Wei will continue to perform their duties as supervisors. As nominated by Suzhou Sugaoxin Group Co., Ltd, a controlling Shareholder of the Company, the Board proposes to elect (i) Mr. Zhang Wei as a representative supervisor of Shareholder of the first session of the Supervisory Committee of the Company; and (ii) Mr. Tang Bo as a representative supervisor of Shareholder of the first session of the Supervisory Committee of the Company. Their term of service will commence from the date of approval at the general meeting of the Company until the expiry of the term of the current session of the Supervisory Committee, and shall be eligible for re-election upon expiry of the term in accordance with the articles of association of the Company.

Mr. Zhang Wei, aged 35, has over 9 years of experience in finance and internal control. From 2013 to 2021, Mr. Zhang successively held various positions in such fields as internal control, internal audit, and finance in multiple companies; from October 2021 to March 2022, he served as the financial controller II in Sugaoxin Chengjian Development (Suzhou) Co., Ltd. from October 2021 to April 2022, he served as the financial controller II in each of Suzhou Gaoxin Education Industry Development Suzhou Co., Ltd, Suzhou Shishan Plaza Development Co., Ltd. and Suzhou Sugaoxin Commercial Development Co., Ltd, and also acted as the assistant director of Suzhou Sugaoxin Group Co., Ltd; and since April 2022, he has been serving as the deputy director of the internal control department in Suzhou Sugaoxin Group Co., Ltd. Mr. Zhang received his bachelor's degree in E-commerce and master's degree in Management from Nanjing University in June 2010 and June 2013, respectively. Mr. Zhang obtained the titles of Economist and Certified Public Accountant in January 2015 and February 2017, respectively.